---
title: The Investment Channel of Monetary Policy: Disentangling Firm Heterogeneity
url: https://www.ml-quant.com/papers/repec/fip-fednsr-103901/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-11-06
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: RePEc:fip:fednsr:103901
source_url: https://econpapers.repec.org/RePEc:fip:fednsr:103901
featured: 2026-11-06
citations: unknown
topic: Macro-Finance & Rates
---


# The Investment Channel of Monetary Policy: Disentangling Firm Heterogeneity

The study estimates the full distribution of firms' investment responses to monetary policy using clustering regression, finding only 5 percent of firm-time observations show strong sensitivity.

- Source: https://econpapers.repec.org/RePEc:fip:fednsr:103901
- Identifier: RePEc:fip:fednsr:103901
- Released: 2026-10-26
- First featured: Quant Letter No. 138 (2026-11-06): https://www.ml-quant.com/issues/2026-11-06/
- Citations (Semantic Scholar): not tracked
- Published in: not yet
- Topic: Macro-Finance & Rates
- Authors: Thomas Drechsel, Daniel J. Lewis, Davide Melcangi, Laura Pilossoph

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